Autodesk price target raised to $265 from $245 at Stifel

Stifel analyst Adam Borg raised the firm’s price target on Autodesk to $265 from $245 and keeps a Buy rating on the shares. Despite mixed macro cross-currents, executes have noted several areas across the business that excite owners/operates, traction with State DOTs, continued momentum in manufacturing, geographic strength, and the company’s new transaction mode, the analyst tells investors. Stifel continues to believe the company has secular and company-specific drivers that will sustain normalized double-digit top-line growth and that shares can see multiple expansion over time.